STATEMENT OF MAYOR BLOOMBERG ON MODIFIED PUBLIC AUTHORITIES ACCOUNTABILITY LEGISLATION

“Our state representatives
in Albany deserve a lot of credit for dramatically
improving a Public Authorities reform bill that, as initially drafted, would
have done more harm than good. We have always supported reform of the
public authorities, but we had major concerns about the consequences the
original bill would have produced. We said so, and I’m grateful that the
legislature and Governor listened and addressed the problems. Under the bill
being passed today, rather than requiring authorities to sell land at fair
market value no matter the use – eliminating countless opportunities to create
affordable housing, community centers and jobs – the new bill takes into account
an authority’s mission. And rather than requiring authority board members
to act in the agency’s narrowly defined goals without taking into account
broader issues that may be important to City residents, the new bill allows them
to exercise independent judgment while considering local interests. Thanks to
these and other sensible revisions, the legislation passed today will improve
oversight of authorities while still providing them with the flexibility needed
to responsibly serve the people of New
York City and State.”